Charged with what the U.S. Securities and Exchange Commission called “massive fraud,” Theranos CEO Elizabeth Holmes has cut a deal with the agency.
The SEC charged Holmes and the firm’s former president Ramesh “Sunny” Balwani with “an elaborate, years-long fraud,” in which they raised $700 million dollars from investors and enjoyed a multibillion-dollar valuation by misrepresenting the privately held firm’s diagnostic technology that was supposed to work with just a finger prick and a few drops of blood, and cost less than standard blood tests.
As the firm spread its product-walk-up centers were stationed at dozens of pharmacy chain… Read more »
UNDERWRITERS AND PARTNERS